Global Water Technologies launches new effort to reduce water loss
New partnership begins pilot project search, adds additional project staff
INDIANAPOLIS, July 12, 2012 /PRNewswire/ -- Global Water Technologies (OTC Pink: GWTR) is pleased to announce that its new partnership with Martinek Water Management, GmbH, is moving forward with efforts to set up a pilot project in the United States to provide real-time monitoring of leak conditions and reduce loss in drinking water systems.
"Current drought conditions have raised awareness about the critical need to use water more efficiently. We reviewed the technology here in Indianapolis this week and understand how it has been deployed in countries across Europe," said CEO Erik Hromadka. "We have begun efforts to demonstrate this unique system in a pilot project that we hope to launch in the second half of this year and are pleased to add independent contractors as team members for that effort."
- Randy Marra will serve as program manager for the pilot project. Marra has more than 25 years of experience addressing underground utilities as the owner of a civil contracting company in Indianapolis.
- Tom Marendt will assist with business and community development. Marendt is a former elected official in Indiana and has also worked in local and state government.
- Doyle Groves will serve as a senior data scientist to provide analysis of water system metrics. Groves specializes in predictive modeling from vary large data sets using computational intelligence techniques.
The patented technology provides a real-time monitoring solution that measures pressure, flow and noise conditions in water mains and uses proprietary software to analyze changes in leak conditions. In addition, Global Water intends to begin development work on software analytics that may allow predictive modeling of such metrics for use in an early warning system for water main breaks.
Global Water Technologies has issued shares of its common stock to secure the new partnership, additional staffing resources, reduce payables and convert a portion of its long-term debt. As a result, the current number of outstanding shares will increase to 10,736,105. The company is also continuing to seek funding and development partners to launch the pilot system of the new technology in the U.S. market.
More information about Global Water Technologies is available at: www.gwtr.com
Statements relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
SOURCE Global Water Technologies
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